Lights out: Regal Cinemas to suspend operations

Closures in major markets and Hollywood delays are partly to blame

TRD NATIONAL /
Oct.October 05, 2020 03:30 PM
The Regal Cinemas chain will suspend operations at all of its US movie theaters (Getty)

The Regal Cinemas chain will suspend operations at all of its US movie theaters (Getty)

Cineworld, the owner of the Regal Cinemas movie theater chain, will suspend operations at its locations across the United States, the Wall Street Journal reported.

The announcement to temporarily close 500 theaters came after a wave of postponements of big-budget Hollywood movies, including the new James Bond film “No Time to Die.”

“We are like a grocery shop that doesn’t have vegetables, fruit, meat,” Cineworld CEO Mooky Greidinger told the Journal. “We cannot operate for a long time without a product.”

Major movie theater chains, such as Regal, AMC and Cinemark, reopened some of their facilities in August ahead of the release of Christopher Nolan’s spy film “Tenet.”

But theaters in major U.S. markets, including Los Angeles and New York City, remain closed due to the pandemic. Cineworld’s decision to cease operations is partly because it can’t open its theaters in those cities, the Journal reported.

Movie theater owners who are worried about the survival of their businesses have called on the federal government for funding, the L.A. Times reported.

Others have complained to government officials in California and New York, since some indoor facilities, such as restaurants, bowling alleys and churches are allowed to open with capacity restrictions while theaters must stay closed.

“In the cinema, everyone is seated and looks in the same direction… in the restaurant you take off your mask and you sit one in front of the other,” Greidinger told the Journal. “It simply doesn’t make sense.” [WSJ] — Akiko Matsuda


Related Articles

arrow_forward_ios
Todd Jones and Albert Banalloun, with a rendering of the project (Credit: Fisher Architects)

Hollywood Publix with boat dock advances

Hollywood Publix with boat dock advances
South Florida’s retail reopening rollercoaster has brought “confusion and hesitation and fear,” as restaurants and other businesses try to adapt to shifting consumer demand. (iStock)

Retail’s reopening rollercoaster: “Confusion and hesitation and fear”

Retail’s reopening rollercoaster: “Confusion and hesitation and fear”
Wynwood Works rendering and Udonis Haslem (Credit: Bobby Metelus/Getty Images)

Magellan Housing and Miami Heat star Udonis Haslem to build Wynwood apartment project on city-owned land

Magellan Housing and Miami Heat star Udonis Haslem to build Wynwood apartment project on city-owned land
Founder and CEO of IT'SUGAR Jeff Rubin, and BBX CEO Alan Levan (Credit: Denise Truscello/Getty Images)

It’Sugar files for bankruptcy protection after sales sour

It’Sugar files for bankruptcy protection after sales sour
River Landing, Andy Hellinger and Coralee Penabad

Years in the making, $425M mixed-use Miami River development opens

Years in the making, $425M mixed-use Miami River development opens
Shoppes of Coral Way (Google Maps)

South Florida investor wants to sell Coral Way retail center for $24M

South Florida investor wants to sell Coral Way retail center for $24M
Ram Realty CEO Casey Cummings and 15601 Southwest 127th Avenue, Miami (Credit: Google Maps)

University of Miami sells land for Walmart-anchored project

University of Miami sells land for Walmart-anchored project
1200 N State Road 7 and 5300 Coconut Creek Parkway (Credit: Google Maps)

CVS, drive-thru bank in Margate fetch $7M

CVS, drive-thru bank in Margate fetch $7M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...